CAMBRIDGE, Mass.– Moderna announced on Thursday that it will reduce its global workforce by approximately 10% by the end of 2025, as part of a broader effort to streamline operations and align with long-term financial goals. The layoffs are expected to bring the company’s headcount below 5,000 employees.
The decision was communicated in a letter to employees from CEO Stéphane Bancel, who described the move as a “difficult but necessary step forward.” He emphasized that the company has exhausted other cost-reduction strategies before turning to job cuts.
“This decision was not made lightly,” Bancel wrote. “It impacts teammates and friends who have dedicated themselves to our mission and who have helped build Moderna.”
The biotech giant, best known for its COVID-19 vaccine, has been working to reduce annual operating expenses by $1.5 billion through 2027. Cost-saving measures already implemented include scaling down research and development as respiratory trials wrap up, renegotiating supplier contracts, and cutting manufacturing costs.
Despite those efforts, Bancel said job reductions were unavoidable to “reshape our operating structure and align our cost structure to the realities of our business.”
Employees affected by the layoffs will be supported through the transition, according to the company.
Moderna currently has three approved products and is aiming for up to eight additional regulatory approvals over the next three years. Bancel reiterated the company’s long-term vision, noting it remains committed to advancing treatments in oncology, rare diseases, and latent viruses.
“We are sharpening our focus, becoming leaner, and staying ambitious,” Bancel said.
The company will address the workforce changes and future plans in more detail during a scheduled Town Hall meeting.
